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Joint Venture and Bridge Loan

Home    Financial Products   Joint Venture
Equity Joint Venture Program
BCF and required investors will invest up to 90% of equity capital. The financing structure may be a combination of equity & debt.

Click below for details:
Property Type
Capital Structure
Guarantees and Recourse
Exit Fees
Operations
Preferred Returns
Pricing
Processing
Terms
Third Party Reports
Notice
Bridge Loan

Property TypeS
All product types for opportunity buys, value creation (rehabs) and yield plays. Prefer apartments, office, grocery anchored retail and industrial for new construction. We prefer 50% +/- pre-leasing required for new retail construction. Other properties considered on a case by case basis.
•  Office or mini self-storage - located in in-fill or
    prime suburban locations. No Development.
•  Retail - centers anchored by neighborhood grocery/drug stores or
    big box with credit tenants preferred.
•  Industrial - multi-tenant bulk-warehouse and distribution parks,
    office/showroom and research and development properties.
•  Multifamily - garden-style built with traditional amenities.

Loan amount $3 million to $50 million per property, and $75 million in combined debt and equity. Over $100 million available for special strategic alliances.

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Capital Structure
BCF and or its affiliates will invest 70% - 95% of equity capital with 70% - 80% loan to value debt. Alternative financing structures are available if partner's share in upside, or, residual that can be increased to an amount greater than its initial capital based on partners added value to the project.

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Guarantees and Recourse
Personal guarantees may be required for construction loan portion, bonding required for construction period. There will be typical carve-outs for permanent debt financing.

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Exit Fees
The fees will be based on a 'look-back' at exit to yield a 14 to 25% annualized IRR - not including interest. This will result into a 40% to 60% partner split in the project cash flow. The length of the investment and available cash flow at exit determines the final profit split. The exit strategy will be pre-determined for each project. Fees will range from 4 to 6 points, depending on transaction size. Par pricing is available under certain circumstances.

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Operations
The partner will handle day-to-day operating decisions and property management. All major decisions will include both partner and BCF. Acquisitions are made on behalf of BCF or its Affiliates.

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Preferred Returns
9% - 12% on all equity invested.

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Pricing
Flexible pricing with preferred returns, the size of promotion needed for IRR look-back, equity return preference, and other deal items vary depending upon the transaction risks and amount of partner’s equity.

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Processing
The underwriter may quote within 5 business days of receipt of all primary property data and can generally issue a final loan commitment letter, and close within 30 to 90 days.

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Terms
The terms are 1 to 5 years holding period. We prefer 1 to 3 years hold. There is a 3 to 5 years hold on yield plays and preferred equity.

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Third Party Reports
MAI appraisal, engineering, environmental and a feasibility study will be required. Our underwriters may require additional reports for further evaluation. The quality of the developer and the project is critical for the success of the program.

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Notice
The information furnished to you here is preliminary. This is not an offer or a loan commitment, all rates, terms, and conditions, are subject to changed without notice. Commercial transactions are subject to due diligence submission with a formal application, underwriting and written approval.

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Bridge Loan
A bridge loan is a loan that is used for a short duration of time (1 month to 5 years) until permanent financing is put in place.

Bridge loans are the perfect solution to timely real estate acquisitions or business opportunities because they allow a purchaser or investor to act quickly by using private money sources.

BCF is able to provide funds quickly because along with our investors we can use their own private capital. Additionally, the loan committee is comprised of only a few members of the executive team, creating an expeditious, approval process.

We are not encumbered by the same prohibitive regulations that most institutional lenders must follow. Our documentation process enables us to perform our due diligence and fund loans in within 7 to 20 business days.

•  We fund bridge loans from $3 million $10 million, nationwide.
•  The terms of our Bridge Loans range from 30 days to 5 Years.
•  Our interest rates are 12% to 18%.
•  Our loan fees vary for each project funded.
•  Funding can take place within 7 to 20 business days.
•  Our bridge loans must be secured with real estate as collateral.
•  Our loan to value is up to 75%
•  Individual credit will be taken into consideration

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